Top NFT marketplace Opensea is focusing on protecting its users from NFT scams. This is coming in the wake of an increased number of phishing scams in the NFT space.
Unknown NFT transfers exposes users to NFT scams
The new feature introduced by Opensea will automatically hide suspicious NFT transfers from user’s view.
This feature is timely due to the high rates of phishing attacks in the space which has resulted from NFT users interacting with malicious website.
Blockchains are open and public, so anyone can transfer digital assets to another user on the blockchain. This wonderful feature has become a double edged sword that has led to huge losses in recent times. Because it has become a major MO for hackers and scammers in the NFT space.
Transfers from unknown senders are not harmful in themselves. But the scammers lure users to interact with phishing sites through them hence exposing them to exploitation.
New Opensea feature to hide Suspicious NFT scam transfers.
Although the NFT outlet cannot stop the unwanted transfers it aims to protect its users from interacting with them.
Opensea has introduced 3 updates to protect users from these NFT scams.
According to a blog post released by Opensea, it plans to achieve this by:
- Sending some transfers automatically to a hidden folder just like email spam.
- Notifying users when they receive a transfer hidden by Opensea.
- Introducing a filter option to the hidden folder that filters files hidden by you and those by Opensea.
More improvements coming to the new feature
Opensea also stated that these features are not fully formed as more improvements will be coming.
In a tweet the NFT marketplace stated that:
“We’re rolling out these changes today; but we’ll train our detection logic in the next several weeks. During this time, we may accidentally auto-hide legit transfers. If that happens – don’t worry. It’s safe to unhide transfers you were expecting”.